Cyber-Security Risks of Fedwire

Abstract

This paper will review the risks associated with the Federal Reserve's Fedwire network as a key resource necessary for the efficient function of the American financial system. It will examine the business model of the Fedwire system of real-time interbank transfers, the network characteristics of Fedwire, and the possibility of a successful attack on Fedwire and its potential impact on the U.S. financial system.